Does Exodus Pay Stakes?

Yes Exodus does Pay Stakes!

This article will cover everything you need to know about how you can earn passive income inside of your Exodus wallet!


In this Article:


How is it possible to make passive income with crypto?

With the introduction of the Proof of Stake consensus model which is the alternate mechanism to the Proof of Work model that allows transactions to be approved.

The Proof of Stake model allows you to hold crypto and in most cases “delegate” it as resources to the given network to uphold and help the network, and as a result you get a bit of a reward.

Each crypto is independent so your calculated rewards, how often you receive rewards, and how to claim your rewards will be slightly different.

So here is an article to see exactly how you can make some extra money while you sleep!


How can I stake inside of Exodus?

Staking inside of Exodus is as simple as finding the crypto you want to stake and start earning rewards!

Each crypto works differently, so please have a read through the below options to see which crypto you would like to start earning rewards.

Algorand (ALGO)
  • Rewards are paid out in ALGO.
  • Algorand does not require you to lock up any amount, simply by holding ALGO in your Exodus wallet you will earn passive rewards on that balance.
  • Learn more about Algorand (ALGO) here.
Cosmos (ATOM)
  • Rewards are paid out in ATOM.
  • With Cosmos, staking means you agree to lock up an amount of your ATOM that you choose for a certain period of time, during which they are unspendable. However, you can unlock your ATOM whenever you choose.
  • Learn more about Cosmos (ATOM) here.
ONT/ONG
  • Rewards are paid out in ONG.
  • With Ontology, staking means you agree to lock up an amount of your ONT that you choose for a certain period of time, during which they are unspendable. However, you can unlock your ONT whenever you choose.
  • Learn more about ONT and ONG .
NEO/GAS
  • By holding NEO, you receive rewards in GAS.
  • NEO does not require you to lock up any amount, simply by holding NEO in your Exodus wallet you will earn passive rewards in GAS on that balance.
  • Learn more about NEO and GAS here.
Tezos (XTZ)
  • Rewards are paid out in XTZ.
  • Tezos does require you to choose to start staking, however you simply choose to stake your address or not. What this means is that you never have funds locked, you can use your Tezos wallet as you wish, you will just earn rewards based on the balance in the wallet at a given time. Just make sure to start staking your Tezos address!
  • Learn more about Tezos (XTZ) here.
VeChain/VeThor (VET/VTHO)
  • By holding VET, you will receive rewards in VTHO.
  • VET does not require you to lock up any amount, simply by holding VET in your Exodus wallet you will earn passive rewards in VTHO on that balance.
  • Learn more about VeChain (VET) and VeThor (VTHO) here.

Earn Rewards App

Exodus now has a convenient way to keep track of all your assets that are generating you passive income! In this section we show you everything you need to know about the Rewards App.

Images and instructions in this article are using the new Exodus App Navigation - you can turn it on or off in Settings > Apps. Read more about how the App Nav works here.

How do I install the Rewards App?

All you need to do is go to Settings then click on Apps and finally click install on Rewards.

How do I use the Rewards App?

First thing you will want to do is open the Rewards App that you have just installed. To do this all you need to do is click the Rewards App icon at the top of your Exodus wallet.

Inside of the Earn Rewards App you will see at the top your average APY, current balance that is earning rewards, and your current all time earnings:

As well as the Calculate Profit tool and where to switch the view mode:

Underneath, you see a breakdown of your assets gaining interest and what the current APY is for the asset. Where available a Get Reward button will be there so you can claim your rewards.

Under the Type you will see how each reward process works:

  • Automatic: Earning and Claiming rewards are automatic just by holding this type of asset in your Exodus wallet.
  • Claim: Earning rewards is automatic just by holding this type of asset in your Exodus wallet. You will just need to manually claim your rewards.
  • Staking (auto): First you will need to choose to stake an amount of this asset then earning and claiming rewards are automatic after this time.
  • Staking (claim): First you will need to choose to stake an amount of this asset then earning rewards are automatic. You will just need to manually claim your rewards.

How can I calculate potential profit?

Inside of the Rewards App you might have seen the Calculate Profit button in the top left. What this tool allows you to do is to calculate your potential profit by setting your own values. You can set an amount you might like to stake using the Deposit Amount slider as well as the duration you will be staking using the Term in months slider.

You will see the Potential Profit on the right hand side using the current APY of the asset.

Individual asset rewards

Each of the above cryptos have an Earn Rewards menu inside of their wallet within Exodus. To open the menu simply follow these steps:

Please note: We will be using Algorand for these examples however the steps will be the same with any of the above cryptos.

Desktop:

1
Open the crypto of your choice that supports staking.
2
Click the three dots in the top right corner of the wallet.
3
Click on Earn Rewards.

Mobile:

1
Open the crypto of your choice that supports staking.
2
Tap on the Earn Rewards icon in the top right corner of the wallet.


Compound Finance

As an extra note to make some passive income, is Compound Finance. Compound Finance is a protocol built on the Ethereum blockchain that allows a user to lend their Ethereum assets to a pool of assets.

Once you have lent your asset to the Compound Finance protocol, you accrue interest every time an Ethereum block is mined. You are also free to withdraw your assets whenever you choose, giving you the freedom to lend and withdraw earnings as you wish.

Whilst this isn’t the same as the above staking crypto, it is definitely another easy way Exodus allows you to earn passive income!

Please learn more about Compound Finance here.

Please note: To start using Compound Finance you first to make sure you are using the new App Navigation.

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